Nikolas Sargeant
Missouri lawmakers have advanced a Bitcoin strategic reserve bill, with House Bill 2080 referred to the House Commerce Committee on February 19 as the legislation progresses through the state's legislative process.
The bill was introduced by Representative Ben Keathley in January and proposes authorizing the state treasurer to "invest, purchase, and hold cryptocurrency using state funds." The legislation allows the treasurer to accept gifts, grants, and donations from Missouri residents or government entities to fund the reserve.
Under the proposed framework, the treasurer can store Bitcoin for five years, after which holdings can be transferred, sold, or converted into alternative tokens. The legislation prohibits transactions involving foreign countries or entities operating outside Missouri's jurisdiction.
The bill includes provisions allowing government entities to accept cryptocurrency approved by the Department of Revenue for citizens to pay taxes, fees, fines, or other expenses owed to the state. The payment mechanism would expand how residents can satisfy financial obligations to government agencies.
House Bill 2080 must undergo a public hearing and committee vote before returning to the full House for debate and final passage through the chamber. If approved by the House, the legislation will advance to the Senate for reading, committee review, floor debate, and voting. Following Senate approval, the bill proceeds to the governor's desk for signature or veto.
A similar proposal, House Bill 1217, was introduced in February 2024 but failed to advance past committee stage. That legislation was referred to the House Special Committee on Intergovernmental Affairs, which held a public hearing in March but never conducted a committee vote to move the bill forward.
The legislation's proposed effective date is August 28, though no date has been set for the public hearing. Asset managers have suggested state-level Bitcoin strategic reserves could generate substantial demand if widely adopted across American states.
